Bitcoin-powered Steak ‘n Shake expands to El Salvador after sales jump

Steak ‘n Shake, an American fast-food chain that accepts the use of Bitcoin as a means of payment, recently made public its intentions to expand its footprint into El Salvador.

This announcement was released after the company shared an X post expressing their excitement about settling in a country that supports Bitcoin. 

They made these remarks after participating in the Bitcoin Histórico event, which took place in San Salvador, the capital of El Salvador, on Wednesday and Thursday of this week.

Steak ‘n Shake seeks to offer a BTC payment option at all its locations globally 

Analysts conducted research and discovered that Steak ‘n Shake initially embraced the use of Bitcoin as a means of payment on May 16, 2025. At this time, the company established this option at all its locations in the US.

Steak ‘n Shake revealed this news on social media and introduced a unique “Bitcoin Steakburger” among other Bitcoin-themed items to celebrate the occasion.

Notably, before accepting BTC as a means of payment, the company had shared an X post dated May 9, 2025, indicating that it would soon offer a Bitcoin payment option.

When reporters reached out to the Chief Operations Officer (COO) of Steak ‘n Shake, Dan Edwards, to comment about global expansion, Edwards mentioned that they seek to offer a BTC payment option at all their locations worldwide.

Following this news, the company reported an 11% increase in same-store sales for the second quarter of the financial year. Analysts weighed on this increase, asserting that it likely resulted from their decision to accept Bitcoin at their restaurants. 

Therefore, with this move, Steak ‘n Shake has become popular in the Bitcoin community and demonstrates a growing trend among merchants beginning to accept Bitcoin for various goods and services. Additionally, sources noted that the decision to accept BTC for small, everyday purchases is a significant step toward broad acceptance.

Interestingly, Steak ‘n Shake also revealed considering using Ether as a payment option at its locations to explore the crypto ecosystem further. This intention was made public after the company shared an X post last month asking individuals whether it is a good idea for them to start using Ether.

Concerning crypto investors, sources close to the situation mentioned that this proposal sparked excitement in the ecosystem, showing that Steak ‘n Shake is interested in the industry as cryptocurrencies become more popular among individuals.

A survey from a reliable source revealed that, out of 48,815 followers surveyed, approximately 53% voted in favor of the proposal. These results contributed to a strong reaction from the Bitcoin community. 

However, like other proposals, this suggestion received criticism from BTC supporters. To illustrate this claim, Bitcoin supporter Ron Sovereignty Swanson responded to the survey, mentioning that  “ETH is just centralized trash. Bitcoin represents freedom. If you do this, you’ll lose all your Bitcoiner customers, including me.” 

Steak ‘n Shake dropped its intention to offer an ETH payment option 

Recent reports highlighted that although Steak ‘n Shake initially pledged to abide by the results of the social media poll, the company later reversed its decision to offer an ETH payment option.

In a statement dated October 11, the same day they started the poll, the company said, “Poll canceled. We stand with Bitcoiners. You have made your choice known. Who even suggested this? I’m back at my desk.”

Meanwhile, Steak ‘n Shake reported high sales for the third quarter of the fiscal year in November. According to their report, they experienced a 15% increase in same-store sales compared to the previous quarter.

Moreover, for the same-store sales growth in the third quarter, the company surpassed all its competitors in the fast food sector. These rivals include McDonald’s, Burger King, Taco Bell, and Starbucks.

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